Ashtead slashes pension entitlements for top execs August 4, 2019 FTSE 100 plant hire firm Ashtead has axed pension entitlements worth up to 40 per cent of salary for its senior executives as pressure grows on UK public companies to cut excessive pension packages. Ashtead has cut pension perks for its senior staff from up to 40 per cent of salary to a maximum 15 [...]
Cobham founding family says takeover ‘against national interest’ August 4, 2019 The founding family of British defence firm Cobham has asked the government to intervene in the £4bn takeover of the company by US private equity giant Advent International. Lady Nadine Cobham has reportedly written to defence secretary Ben Wallace and business secretary Andrea Leadsom urging them to block the deal, saying the takeover could threaten [...]
Uber quest for long-term London licence faces rejection August 4, 2019 London’s transport bosses are set to snub Uber’s bid for a long-term licence in London when its probationary period runs out next month. The ride-hailing giant has been seeking a five-term licence to operate in the capital but is instead likely to be granted a shorter one that will run for less than two years, [...]
Arqiva owners plan break-up of company after ditching £6bn float August 4, 2019 The investment firms behind telecoms mast giant Arqiva are said to be planning a break-up of the business, two years after they ditched a £6bn float. Read more: BT eyes £80m sale of legal software division Tikit as it focuses on full-fibre The move would see Arqiva’s TV and radio towers business split from its [...]
Government loses bid to throw out legal challenges against franchise snubs August 4, 2019 The government has lost a bid to strike out legal challenges from three rail firms that are contesting its handling of controversial franchise bids. Last week The High Court gave Virgin, Stagecoach and Arriva Trains the green light to challenge former transport secretary Chris Grayling’s decision to ban them from bidding for the East Midlands, [...]
Stephen Barclay urges Barnier to seek new mandate for Brexit talks to avoid no deal August 4, 2019 EU leaders must give their chief negotiator Michel Barnier a fresh mandate to change the withdrawal agreement if they do not want to end up with no deal, Brexit secretary Stephen Barclay has said. Barclay, who kept his position in Boris Johnson’s Cabinet overhaul, said MEPs in the European Parliament had changed since the European [...]
Competition watchdog will probe Salesforce’s massive $15.7bn takeover of Tableau August 2, 2019 Britain’s competition watchdog will investigate Salesforce’s $15.7bn (£12.4bn) buyout of Tableau Software, it said this morning. Salesforce completed the mammoth takeover yesterday, which is the biggest acquisition in the company’s history. Read more: Salesforce to buy Tableau Software in $15.7bn deal But the Competition and Markets Authority (CMA) has opened an investigation into whether the [...]
British Airways to fight data breach fine as parent company profits stay flat August 2, 2019 British Airways will “vigorously defend itself” against its £183m fine by authorities for a data breach in which more than 400,000 customers’ information was stolen. The airline this morning said it would use all means at its disposal to avoid the record-breaking penalty. Read more: British Airways owner set for record £183m fine after 2018 [...]
Two thirds of adults fear AI will take jobs August 2, 2019 The public is concerned about the impact of artificial intelligence on their jobs and personal data, while some fear the technology could ultimately be responsible for the end of humankind, a new survey has revealed. 67 per cent of UK adults worry that AI will result in machines taking peoples’ jobs, according to a study [...]
Freeports: Government plans tax-free hubs aimed at boosting trade post-Brexit August 1, 2019 Plans to bolster Britain’s international trade post-Brexit by creating up to 10 major tax-free zones are being drawn up by the government. New international trade secretary Liz Truss has set up a panel to advise the government on the establishment of as many as 10 Singapore-style so-called ‘Freeports’. Read more: Stock markets edge up after [...]